Catch the Big Fish — Strategy by SushilKothawade
By SushilKothawade
Performance Metrics
- Author: SushilKothawade
- Symbol: NSE:BHARTIARTL
- Timeframe: 5 minutes
Description
Nov 6, 2020Volume based script to catch a big move. Works best on 5 min timeframe.The default sma duration for volume is set to 150 = number of candles in 5 mins timeframe for 2 days.Heavy volume is defined as = more than 9 times of sma.Both parameters are configurable.Trading strategy: Long buy at high / Short sell at low of the candle where the script gives the signal.Important note regarding SL - for Long / Short positions respectively, the SL should be placed at low / high of previous candle, and NOT of the same candle.Jan 23, 2021Release NotesVolume based script to catch a big move. Works best on 5 min timeframe.The default sma duration for volume is set to 150 = number of candles in 5 mins timeframe for 2 days.Heavy volume is defined as = more than 9 times of sma.Both parameters are configurable.Trading strategy: Long buy at high / Short sell at low of the candle where the script gives the signal.Important note regarding SL - for Long / Short positions respectively, the SL should be placed at low / high of previous candle, and NOT of the same candle.Update from 24-Jan-2021,The script now also plots high and low of heavy volume candle which acts as support and / or resistance.high / low values are plotted for next 7 calendar days (max 5 working days, without holidays) which can be changed to your wish.Conventions:navy color indicates support, maroon indicates resistancethicker indicates stronger support / resistance than the thinner